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SmartFinancial/Entegra Financial MOE has $6.4M termination fee provision

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SmartFinancial/Entegra Financial MOE has $6.4M termination fee provision

The pending merger of equals between Knoxville, Tenn.-based SmartFinancial Inc. and Franklin, N.C.-based Entegra Financial Corp. has a termination fee of $6.4 million.

The termination fee is payable by either party under certain circumstances.

The deal, expected to close mid-2019, is valued at approximately $158.2 million.